Opinion
Perhaps an analysis of the causes of the declining investment rate would bring us closer to explaining why real interest rates are so low.
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Policy Contribution
An earlier version of this paper was presented at ‘The MPC at 25’, a conference organised by the United Kingdom’s National Institute of Economic and Social Research, in London, 30 March 2022 The process by which central banks take decisions has evolved over the years, with a tendency towards independence and decisions taken by committees […]
Opinion
Tackling inflation requires both monetary and fiscal policy tightening. It should be done quickly to avoid building up inflationary inertia and stagflation
Past Event
How can the public sector meet the climate funding needs of the EU?
Blog Post
Expected increases in interest rates and reductions in real GDP growth rates will result in relatively small increases in public debt-to-GDP ratios, but inflation will reduce debt ratios very substantially
Past Event
China's Belt and Road Initiative is undergoing a transformation after two years of pandemic. How is it changing and what are the consequences for Europe.
Policy Contribution
The post-pandemic new normal is sure to differ both from the pre-pandemic normal and from current arrangements. Hybrid arrangements in which part of the week is spent at the office, and part at home, are likely to become the norm.
External Publication
The ECB should design a specific tool that will accompany interest rate hikes to neutralise the risk of fragmentation directly for countries facing it, staying within the bounds of the EU treaties and ensuring political legitimacy. We also advocate structural changes to the ECB’s collateral framework to avoid unnecessary uncertainty surrounding the safe asset status of European sovereign bonds.
Opinion
Even though inflation in the euro area is lower than in the US, three issues make it a lot more difficult for the ECB to control inflation and preserve financial stability. Once again, the limits of EMU architecture are visible and will require a rethink.
Podcast
What are the implications of prolonged inflation?
Past Event
What are the vulnerabilities and risks in the enterprise sector and how prepared are countries to handle a large-scale restructuring of businesses?
Past Event
How is monetary policy evolving in the face of recent crises? With central banks taking on new roles, how accountable are they to democratic institutions?
Podcast
What does zero-COVID mean for both China and the global economy?
